Common use of Statement of Account and Invoicing Clause in Contracts

Statement of Account and Invoicing. 1.1 Within twenty five (25) Business Days after the end of each Charging Period, the Company shall submit to the Service Provider a statement of account (the “Statement”) specifying the Demonstration of Compliance Payments due in respect of that Charging Period. 1.2 Within twenty (20) Business Days after the date on which the Company submits to the Service Provider a Statement, the Service Provider shall either: (a) where the Service Provider agrees with the Statement’s accuracy, submit to the Company an invoice for the same aggregate amount as is specified in the Statement (the “Invoice”) together with a written notice confirming the accuracy of the Statement; or (b) where the Service Provider disputes the Statement’s accuracy, submit to the Company an Invoice for such sum as the Service Provider, acting in good faith, believes is due together with a written notice (the “Claim”) specifying the sum disputed and the grounds of such dispute. For the avoidance of doubt, the Service Provider shall not be entitled to issue an Invoice for an amount greater than the aggregate amount specified in the Statement. Any claim under this Paragraph 1.2 shall be subject to the dispute resolution mechanism set out in Paragraph 3 below. 1.3 The Service Provider shall be deemed to have agreed with the accuracy of the Statement if it fails to submit the Claim to the Company in accordance with Paragraph 1.2.

Statement of Account and Invoicing. 1.1 Within twenty five (25) Business Days after the end of each Charging Period, the Company shall submit to the Service Provider a statement of account (the “Statement”) specifying the Demonstration demonstration of Compliance Payments due in respect of that Charging Period. 1.2 Within twenty (20) Business Days after the date on which the Company submits to the Service Provider a Statement, the Service Provider shall either: (a) where the Service Provider agrees with the Statement’s accuracy, submit to the Company an invoice for the same aggregate amount as is specified in the Statement (the “Invoice”) together with a written notice confirming the accuracy of the Statement; or (b) where the Service Provider disputes the Statement’s accuracy, submit to the Company an Invoice for such sum as the Service Provider, acting in good faith, believes is due together with a written notice (the “Claim”) specifying the sum disputed and the grounds of such dispute. For the avoidance of doubt, the Service Provider shall not be entitled to issue an Invoice for an amount greater than the aggregate amount specified in the Statement. Any claim under this Paragraph 1.2 shall be subject to the dispute resolution mechanism set out in Paragraph 3 below. 1.3 The Service Provider shall be deemed to have agreed with the accuracy of the Statement if it fails to submit the Claim to the Company in accordance with Paragraph 1.2.